54: Do You Even Business?

In this episode, Tim and Randy will talk about the business side of things in relation to gym businesses. This is the one thing that gym owners tend to neglect when they start their brick and mortar businesses. In most instances, they lack the necessary business acumen to grow their businesses and they invest more in technical knowledge than anything else.Tim and Randy will ask all the hard questions about that and discuss areas that you should be investing in, in order to grow your business.Key Takeaways:The first requirement for being an effective gym business owner (04:53)Having a clear picture of the business: The P&Ls (07:32)The top 1% must have tax strategist for your business (12:30)Renegotiating with the landlord and focusing more on building equity (17:49)Doing things that generate more revenue first (22:05)The best client retention behavioral modification strategy for a gym (25:45)People will work for a paycheck, but they will die for recognition (29:42)Additional Resources:www.WinningGym.com/Scottsdale--You can find out more about Tim and the strategies covered in this episode by checking out our website.--Would you rather watch the video version instead?Head over to our YouTube channel to watch this episode by going here--If you don’t already have my book, get your copy FREE here.--Connect with Tim:Schedule A CallFacebookInstagramLinkedInConnect with Randy:FacebookInstagram--Subscribe to the podcast on Apple, Spotify, Google, Stitcher, YouTube or anywhere else you listen to your podcasts.If you haven't already, please rate and review the podcast on Apple Podcasts!